$1000 is placed in an account at 4% compounded annually for 2 years. It is...
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Accounting
$1000 is placed in an account at 4% compounded annually for 2 years. It is then withdrawn at the end of the two years and placed in another bank at the rate of 5% compounded half yearly for 4 years. What is the balance in the second account after the 4 years?
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